a property that is a single flat in a building containing many other residences that you do not own;

letting out a relatively small part of your home to holidaymakers during the summer season while you continue to occupy the rest;

letting a single room in your house to a student;

Although all of the above situations will typically require landlord insurance, nevertheless, there may be subtle differences between policies in the above contexts which would make some a better fit to your circumstances than others.

The first step is, therefore, to thoroughly understand your business and consider the risks it faces. That should be the starting point for trying to find appropriate landlord insurance cover.

Assistance

The second key point to make is that finding a good match to your individual business position is not always easy.

It’s perfectly possible to quickly become swamped with options and unless you are determined to become an insurance expert as well as a landlord, the risk is that you’ll default to selecting one based on price alone. That would be unwise.

The fact is that you can tell nothing about the suitability (or otherwise) of landlord insurance for your particular situation by looking at the advertised price.

To illustrate why the price can be deceptive, consider just two examples:

what level of excess does the policy carry? That is the sum of money you will be expected to contribute towards the cost of any future claim. An apparently very low-cost policy might carry a large excess and that might prove to be something you’ll regret if you need to make a claim in future;

All insurance policies carry terms, conditions and therefore exclusions. However, some exclusions might be rather more “demanding” than others and that might be something that could explain why the policy’s price is seemingly so low.

It’s therefore always advisable to seek advice and guidance from an expert when trying to find landlord insurance.

Summary

Without understanding the specifics of your landlord business, it would be Impossible to say anything meaningful about what might be a suitable insurance solution for you.

Given how important your insurance might be to you one day, it’s important not to take wild gambles here or to be unduly influenced by advertising and specifically cut-price type offers.

Looking at a number of options and having qualified input to your decision-making processes, should help you to quickly identify an appropriate option and one which is cost-attractive.